Dundalk reveal profit of €3 million-plus after European run
Airtricity League champions’ outgoings rose from €904,468 to €2,091,081
Dundalk Manager Stephen Kenny lifts the Premier Division trophy following another highly successful season. Photograph: Ryan Byrne/Inpho
SSE Airtricity League champions Dundalk made a profit of more than €3 million last year with the club’s European success earning it substantial sums in Uefa prize money while boosting other revenues.
The exact amount made is difficult to pinpoint because the club is not required to file particularly detailed financial returns but those sent to the Companies Registration Office last week suggest a profit of between €3.19 million and €3.97 million.
Revenues are not listed in the documents and so it is not clear how much of the estimated €7 million in prize money the club had received by November 30th, the cut off date for the accounts, and some portion of the money is likely to have still been due.
Various outgoings are detailed, however, and there is some evidence of the cost of the club’s success with wages for the year more than doubling from €904,468 to €2,091,081 or an average of €80,426 per employee. That figure goes up once social welfare and pension costs are included with the total for the 26 staff coming to €2,702,243.
The club’s pension contribution of €400,000 was up from zero for the previous year and it is possible that this relates to how particular employees opted to have performance related bonus payments made although a call to the club on Tuesday to clarify the matter was not returned.
The club, which lists just two shareholders, Paul Brown and Andrew Connolly, paid almost €1 million in various taxes over the course of the year and had shareholder funds of some €3.35 million at the end of November.
Former Cork City defender Brian Lenihan has signed a new one-year contract with Hull City after having recently returned to full fitness in the wake of a serious knee injury. The 22-year-old, who has not had much by way of first team opportunities during his first three years in England, said on social media that he was “delighted to sign a new contract with Hull City. Looking forward to another year of hard work”.
Former UCD, St Patrick’s Athletic and Shamrock Rovers player Enda Stevens is reported to have agreed a move to newly promoted Championship side Sheffield United. The 26-year-old had just played a key part in the promotion of Portsmouth to league One. He joined Pompey in 2015 from Aston Villa.
Former Bohemians and Drogheda United midfielder Paul Keegan, meanwhile, has been released by Doncaster Rovers after six years there. The 32-year-old made 145 appearances for the club, scoring two goals, but had struggled to make an impact this season, partly due to injury, and featured just 10 times, none of which involved a start in the league.